Why you might not receive Vanguard Form 1099-DIV | Vanguard (2024)

FAQs

Why you might not receive Vanguard Form 1099-DIV | Vanguard? ›

You'll only get it for certain account types

Even if you don't received a Form 1099-DIV, you are required to still report all of your taxable dividend income. Schedule B is necessary when the total amount of dividends and/or interest you receive exceeds $1,500.

You'll get a 1099-DIV each year you receive a dividend distribution, capital gains distribution, or foreign taxes paid for your taxable investments. But if the amount is less than $10 for the year, no 1099-DIV is sent.

What happened? Many times, the dividend issuers don't get together to finalize their dividend classification until January or February of the next year, sometimes even later.

Form 1099-DIV is a record that someone paid you dividends. Sometime in February, you might receive a form 1099-DIV (or more than one).

The IRS employs various methods to detect discrepancies in tax reporting, including the absence of 1099 forms. While the IRS does not catch every missing 1099 immediately, their sophisticated systems and data-matching capabilities make it likely that discrepancies will be identified over time.

All 1099-DIV and 1099-B forms are mailed out by mid-February at the latest. You can also access your tax forms digitally: Employee plan participants can find them in the "Tax Forms and Documents" section of Employee Online.

If you have not received an expected 1099 by a few days after that, contact the payer. If you still do not get the form by February 15, call the IRS for help at 1-800- 829-1040. In some cases, you may obtain the information that would be on the 1099 from other sources.

Self-employed taxpayers who earned less than $600 might not receive a 1099–NEC but they must still report all income when filing their tax returns. Freelancers hired through a freelance marketplace such as Upwork may not receive 1099s unless the income exceeds a certain threshold.

You'll need at least $10 in earnings

You'll get a 1099-DIV each year you receive a dividend distribution, capital gains distribution, or foreign taxes paid for your taxable investments. But if the amount is less than $10 for the year, no 1099-DIV is sent.

Who sends a 1099-div? ›

Form 1099-DIV is used by banks and other financial institutions to report dividends and other distributions to taxpayers and to the IRS.

If you receive a Form 1099-DIV and do not report the dividends on your tax return, the IRS will likely send you a CP2000, Underreported Income notice. This IRS notice will propose additional tax, penalties and interest on your dividends and any other unreported income.

Brokerage firms should send the 1099-DIV to taxpayers by January 31, and the filing date by mail is February 28th, while the IRS requires you to do E-filing by March 31st.

Tax form schedule

View a general list of all the tax forms Vanguard provides, along with the dates they'll be available online and sent by mail.

If you receive over $1,500 of taxable ordinary dividends, you must report these dividends on Schedule B (Form 1040), Interest and Ordinary Dividends. If you receive dividends in significant amounts, you may be subject to the net investment income tax (NIIT) and may have to pay estimated tax to avoid a penalty.

In addition, if you have withheld federal income taxes under the backup withholding rules or foreign taxes on dividends or paid $600 in liquidations, a Form 1099-DIV must be filed.

You'll only get it for certain account types

These accounts never generate a 1099-DIV: IRAs and other tax-deferred retirement accounts. Accounts registered to nonresident aliens, who receive Form 1042-S instead.

If you receive $10 or more in dividends, you will receive a Form 1099-DIV. This form shows the dividends you received, any taxes withheld, non-dividend distributions, capital gains distributions, investment expenses, and certain other types of gains. You will need to report this income on your tax return.

Nondividend Distributions

You should receive a Form 1099-DIV or other statement showing you the nondividend distribution. On Form 1099-DIV, a nondividend distribution will be shown in box 3. If you do not receive such a statement, you report the distribution as an ordinary dividend.

Form 1099-DIV is used by banks and other financial institutions to report dividends and other distributions to taxpayers and to the IRS.